A common objection to Texas independence is that our economy cannot support itself independent of the United States. Just yesterday, as my friend Lee and I drove into the Arizona wilderness to scope out some plinking spots, he insisted the Texas economy is dependent on billions of federal dollars and would not survive without them. Let’s put that myth to rest once and for all.
Gross Domestic Product
The 2017 gross domestic product (GDP) of Texas was $1.7 trillion. To put that into perspective, the largest country by area in the world—Russia—had a 2017 GDP of $1.3 trillion. That’s right. The Texas state economy is 30% larger than that of the world’s largest country! In a ranking of nations by GDP, Texas would have ranked number ten, even edging out Canada! Per capita, Texans produce $58,000 as compared to Russia at $8,700, almost seven times the productivity. Yet, more than the magnitude of the Texas economy is its diversity.
According to the April 17, 2018 “Forbes” article “Which Has The Bigger Economy: Texas or Russia?,”
But, whereas Russia’s economy is highly dependent on exports of oil and petroleum products, the Texas economy is broadly diversified. The
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(The opinions in this article are the opinions of the author and do not necessarily represent the views of Southern Nation News or SN.O.)